Comment Text:
Dear Chairman and Commissioners,
My name is Sean Hoyt, and I'm an everyday citizen from Pennsylvania writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. I'm new to prediction markets, but I strongly support their existence under fair and sensible regulation. I believe these markets can serve a real purpose for people like me, and I want to see them handled in a way that protects consumers without stomping on our freedoms.
I value my right to participate in legal, regulated markets. As an American, I think it's important that we have the freedom to engage in systems like prediction markets, especially when they're overseen by agencies like the CFTC. Honestly, I get frustrated when I see the government trying to shut down or over-control things they don't fully understand or can't dominate. This isn't just about money for me. It's about my right to make informed choices in a system thats transparent and safe.
One big reason I support regulated prediction markets is that platforms like Kalshi, which operate under CFTC oversight, are far safer than the unregulated offshore alternatives. If you ban or overly restrict these markets, you're not stopping the activity. You're just pushing people like me to riskier, less accountable places online where there's no consumer protection at all. I'd much rather trade on a platform that's watched by the CFTC than some shady offshore site with no rules. Doesn't that make more sense for everyone?
I also believe that informed trading in these markets isn't a bad thing. It actually helps. When people who know what they're talking about trade, it improves price discovery, and that benefits all of us, even if we're not trading ourselves. The information these markets provide can be more accurate than polls or pundits, and that's valuable to regular folks, not just big investors. Addressing some of the questions in your ANPR, like those in Topic B on public interest (Questions 7-14), I think the balance should lean toward allowing innovation while protecting consumers through regulation, not bans. And on Topic E (Questions 29-32) about inside information, Id say lets focus on enforcing existing laws against insider trading rather than assuming the worst and restricting entire markets.
I'm asking you to support proportionate regulation of prediction markets. Don't ban them or pile on restrictions that push activity offshore. Keep platforms like Kalshi accessible to everyday Americans under clear, fair rules that protect us without taking away our rights. Thank you for considering my perspective.
Sincerely,
Sean Hoyt
